 The following is a presentation of TFNN, the morning markets kickoff with your host Tommy O'Brien. Good Monday morning, everybody. I'm Tommy O'Brien, comedy live from TFNN, 8.30 AM Monday morning kicking off the first day of June. Hope everyone had a good weekend out there. Lots going on in the market right now though. You wouldn't know it by looking at the charts. You got the S&Ps right now, we're negative one point, trading at 3,040, NASDAQ futures negative by 27, that's about three tenths percent, trading at 95.32. You got the Dow up six points, trading at 25,381, a lot of political unrest, a lot of unfortunately violence, rioting, a lot of peaceful protests over the weekend as well. So many stories going on, we'll kick things off. You see the action in the S&Ps, here's where we traded, Friday action. You climb to a high to end the month, quite a run. S&Ps climbing up there, we actually ended out at about 3,057, that is the 445 print. You back it up to where we were as about four o'clock, sitting right where we are now, 3,039. Overnight we were as high as 3,055 and then quite a sell off across the board. You saw the S&Ps at almost 4 AM this morning. You go from a price tag of 3,055, we're looking at 15 minute bars within the span of 45 minutes, you're down at 3,020, 35 points just like that. But guess what, we've clawed back now approaching 20 points of those losses and what did that story have to do with? The headline before we get into the charts, China halts some of US farm imports threatening trade deal. So a lot having to do with trade, you had the press conference with President Trump on Friday, things pretty calm in terms of what could have happened there, in terms of the China and the trade deal and what the US is going to do, market accelerate tire. But you have even today, China may be escalating as Chinese government officials told major state run agricultural companies to pause purchases of some American farm goods, including soybeans as Beijing evaluates the ongoing escalation of tensions with the US over Hong Kong according to people familiar with the situation. So state owned traders, Coffco and Sinnoh Grain were ordered to suspend purchases according to one of the people who asked not to be identified. Chinese buyers have also canceled an unspecified number of US pork orders. One of the people said private companies haven't been told to halt imports according to one of the people. Nonetheless, the markets across the board, you see the drop in the S&Ps, let's jump over to the charts. And there's your S&P drop, I mean just huge moves to kick off June trading. We'll see if we can continue the volatility from May, you're looking at a VIX right now floating in around 29. NASDAQ 100 on that news trades from 9580 down almost 100 points. We're now trading at 9519, Dow 30 traded from 25,500 down almost 300 points on that news. We're now back at 25351. There's crude oil, crude above $35, 3523, gold was trading higher. You back it up to 2 AM, gold was above 1760. And trading 1744 and the euro US dollar right now 111.10. In terms of what else you have happening around the market, we'll jump into stocks with action today. Lots of headlines out there and Eli Lilly, why not? That headline I had that up. So you got Eli Lilly, they're gonna start human trials of a potential coronavirus treatment. Eli said on Monday patients have been dosed to test its potential antibody treatment designed to fight COVID-19 caused by the new coronavirus. Shares coming in, LLY. And you see the spike higher from about 152 to 156.40 so far this morning on that news. Cody, so makeup, Cody named Chairman, CEO with Harf becoming the cosmetic cosmetic makers fourth CEO in less than four years. I believe Cody's the company that purchased Kylie Jenner's brand. She was also out, not sure if you saw it, maybe we'll pull it out with a big Ford story talking about even falsifying records to become a billionaire. She's not quite a billionaire as they put it. But don't worry, because it's like 800 or 900 million there for Kylie Jenner and that makeup brand. The announcement comes as Cody and KKR signed a definitive agreement to spin Cody's hair cred care brands into a separate company, 60% for KKR, 40% for Cody. Cody shares through all of this. So there you see up a bit from 360 to 389 in the longer term. Look at that drop, 13 to three and still sitting pretty close to the bottom of the rung there for Cody shares. So Amazon got an upgrade, Morgan Stanley raised its price target to Amazon 2800 from 2600 saying it expects faster forward growth for Amazon, even if overall consumer spending weakens. That's a strong statement, faster forward growth, even if consumer spending overall weakens. Firm has raised its earnings estimate for Amazon while maintaining its overweight rating. Amazon just bent a powerhouse through this, 2442, you're basically unchanged. I mean, crazy, we're up 50% off the lows you had at the low of the market, 2440 right now for Amazon shares, the king. Zynga, so Zynga notes an acquisition, Turkey based mobile game producer, Peak, 1.8 billion in cash. Peak is the maker of the popular toy blast and tune blast mobile games, I not familiar with those. Separately, Zynga raised guidance for the quarter and full year, not including any possible contribution from the peak deal, ZNGA. There you see the pop there from almost $9 to 1040, bit ass 968 right now is where Zynga is trading. So Caesars Vegas, Caesars plans to reopen a terrace Las Vegas casino this coming Friday with initial consumer demand on the Las Vegas Strip following casino reopenings much stronger than expected. We'll pull up Caesar shares in a moment, but Las Vegas Sands and when I pulled them up, they're not really much changed these two. And it's talking about Macau revenue. How about falling 93.2% in May? Another way of saying that is that they did 6.8% of the business that they did in May compared to last year for those two casinos. We'll start it off with Caesars though, they're coming on Friday. Things look to be on the demand side in Vegas, very nice 1139, you're up to 1190, we're sitting right now at 1149. And then you have the two over relying more in Macau. And as you see, you come up with those numbers and they're already factored into these stocks. These stocks have been pummeled. This is remarkable, you get the number 92% business down year over year. But you just went from 150 down to 35, we're sitting at 83 and pretty much unchanged on that news. And Las Vegas Sands as well, you see unchanged, we're going to open at about 48, but you traded from 74 to 33, sitting at about 48 right now. Delta said it's working with its pilots Union to up, you know what, Siri's talking to me somehow on my phone. What's up with that? Okay, here we go. Delta said it's working with its pilots Union to avoid furloughs of about 2,300 pilots as it tries to match pilot staffing with reduced demand, airlines, I mean the logistical nightmare of trying to balance all of this when basically customers just cease to exist from 60 down to 17, we're trading at 25 unchanged on that news. Checking out the VIX as we wrap up this first segment, you saw the negative action in the market on the China news in terms of not buying commodities. You saw the VIX spike to 3050 last night at about 4 AM, you're sitting at about 2962. Checking out on the S&Ps right now, S&Ps, there's your acceleration on Friday and let's back this up for a little context. Because the high on Thursday 3065 didn't quite get there towards the close on Friday, didn't quite get there overnight as well. And for some context on a monthly though, so that you can see as we wrap this up, couple strong months there in the month of April, the month of May, I mean, look at that month of May. Finishing near the highs were above 3,000. We'll see how June holds out June 1st trading. Stay tuned folks, come back, see what else we have on tap for Monday trading. Stay tuned, I'll be right back. Many of our new listeners have heard about the Tigers Den. The Tigers Den is a lively community where professional traders and investors can meet, exchange ideas and information in a comfortable moderated atmosphere. Hear all of the TFNN shows, plus see all the charts as they happen live and have access to archives of all of those charts. 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Welcome back folks, markets trading a little bit negative, NASDAQ futures now negative by 33, S&P negative by 2, Dow basically flat. On a longer context just to see where we are putting these, I mean charts starting things off with the S&P all time highs 33.97 in the futures, February 20th. We're now flirting between a 618 and a 786 retracement, you jump to the Dow, we're basically oscillating for a few days right around the 618 retracement. And then the juggernaut of the mall, how about it the NASDAQ, I mean check that out, right? A slow rise even from the 786, we're just mellowing right near 100% climb back all the losses from over 3,000 points, we're now approaching 3,000 points from that low of 6628 only March 23rd, you're talking about barely two months, the index has risen almost 50% from those lows, climb back all that in the NASDAQ. In terms of what else we have happening around the market, so Friday we get the jobs report non-farm payrolls for the month of May. For April, pulling up the numbers here, I have the story, let me jump over so in the month of, we'll pull it over so you guys can see as well. Friday's release, May jobs report likely to be the focal point of the week, you're gonna see a lot of trading and volatility. Once you get to maybe late Thursday, Thursday, you're gonna be waiting for that, doesn't mean there can't be a sell off on Thursday ahead of maybe a potential big number. They're gonna be looking for 8 million jobs lost in the month of May. That is down from, I believe it was 14 million, where are we? Excuse me, no, down from 20 million the prior month, there we go, 20.54 and they're looking for 8 this time. Economists anticipate another historic decline in unemployment, so unemployment expected to rise to about 20%. Weekly jobless claims peaking March 29th, they have come down on each week, but we're still dealing with 2.1 million weekly jobless claims. The largest on record ever was only 700,000 prior to this. So even if this curve begins to flatten, which it is, to put it graphically on this chart of where weekly jobless claims, the prior record ever was, right down here, like 700,000. So if that takes a long time to flatten out around that time, still a long time until those jobs are, we should be seeing positive, not weekly jobless claims. Nonetheless, Friday's numbers should be a big one. Other action in terms of earnings going over some of the companies to look for, there's your economic calendar, there's why I want the earnings calendar. So Dick's Sporting Goods, they're out with their numbers before the market tomorrow. Road strike, gaming, and then Zoom, after the market close. So Zoom, they're rolling out new encryption, jumping back, why not? I know we had a headline for them ready, Zoom. They're gonna begin rolling out stronger encryption to prevent so-called Zoom bombing. Other people jumping into people's private Zooms by uninvited guests to conferences, Reuters reports. However, that the move will only applying to paying Zoom accounts and not to the company's popular free accounts. I'm not sure that's a smart business decision by Zoom. They have had quite the run up. I think they just had a second offering to raise, God knows how much money, a billion dollars or something like that. And you're trading, I mean, this one, you're trading higher. Let's pull up the chart. There's your taking higher all the way up to 185, 183, 49. We were just at 150 last week. I mean, crazy, you're up more than 20% from there. But longer term, talk about an acceleration. We were just trading before all of this started at $70, we're now gonna open at 183 on Zoom. Big numbers there. In terms of jumping, other companies to look for, so Dick's Sporting Goods as well, Dick's. During this quarantine, actually, I bought a pair of sneakers from Dick's been doing some walking, running. And it was pretty cool. They said they basically had curbside takeaway. I felt like I was at Outback. I ordered it. They checked in when I got there. They walked out a pair of sneakers, put it in my car and I was gone. It was pretty good service. From $50 down to $13, but talk about a pop. We're trading at about $36.31 by $3606, Dick's with their numbers. Before the market tomorrow, we got Retail, American Eagle out tomorrow, excuse me, Wednesday, Campbell Soup, Candidate Goose before the market open, Thursday, Broadcom, AVGO, Dock Usain. Dave White has talked about that company a lot, in terms of maybe super well positioned to capitalize off all of this, and look at this acceleration, folks. You trade at the beginning, the fall off from 91, down to below 70, and then talk about a run from 65, and we're going to open even higher at about 144 right now. Even last week, putting it on a shorter time frame, from 120 to 145, just from Wednesday trading action just doesn't stop. It makes sense. There's no reason in this day and age that anything needs to be signed in person. You can sign just about anything online. And I imagine that is the pitch of a company like Dock Usain, and it showed in their chart up to 143, quite a pop. Broadcom, AVGO, let's take a look at them. Is there out with their numbers, 290 right now? Some of these charts are just amazing, from 331 to 155, and we're going to open at about 291. Talk about a v-shaped pop, haven't made it quite back up there, but the chip sector, charging on. All right, other companies with action so far, Google. So Google postponed the unveiling of its new Android 11 mobile operating system. It had been scheduled for Wednesday, but amid the outbreak and protests across the nation, Google said now is not the time to celebrate those protests, those riots, some tough deals. And you look at Amazon, Target, Apple, they're going to scale back businesses in cities hard hit by the protests, can't blame them. Amazon owned Whole Foods, Target, Apple, other major retailers, temporary closing stores across the country as protests against police violence continued on Sunday. And those protests, a lot of peaceful protesters out there, you got to encourage that. At this time, people are hurting, but turning into riots, damage, violence, all of that, not okay. Retailers such as Whole Foods and Target adjusted store hours, there's curfews going on. Many curfews out there, so some of those retailers dealing with it. You have Tim Cook out with an email, excuse me, to Apple employees. Many CEOs, rightfully so, have no response, especially when you're dealing with physical locations like that. And people may be being at risk and that's good that they're not putting them at risk. So United, they're going to cut 13 of its officer positions as part of a restructuring. So trimming some of the fat at the top, it also said we'll add some international flights back to its network in July. UAL is their symbol, basically unchanged, we're still flirting at the bottom. I mean, these airlines, it's going to take a while to get back to the bustling. Imagine the bustling airport, the airport was always craziness, right? I mean, the check-in line, you stop, you get a sandwich, you get a coffee, you get a water, you get some snacks, you buy some gum, you buy a magazine, you buy a book, you sit down, you wait in line to get on the plane, you wait in line to get to security. It's going to take a while until you're comfortable to the point of just packing people over and over and over. And then you're waiting in the terminal, then you're waiting in the line to get in the plane. Then you're in the plane and you're in the line in between the seats, right? Just keep all that in mind when you make a high risk, I would say anything high risk investment, trade, gamble on any of these, let alone the cruise ships, all of those. You had Boeing saying potentially one of the airlines might go BK and any airline is going to say we are not going BK until the moment they go BK. Checking on our VIX 2969, markets S&P 9 is 6, you get the NASDAQ negative 40, all the markets slightly in the red, but we were dramatically lower on that China import news with commodities. Stay tuned folks, come back after the break, finish up the program, see what else we have on tap for Monday trading, first trading day of June. I'll be right back. Back in the day, I joined the Hotel California in 2006. And like many of you was drawn in by as well as whatever you think about you bring about whatever you focus on grows. You see, I believe that everything in life happens for us, not to us. And Tom ignited the fire within me to want to learn how to master the markets. So how did I go from knowing nothing about technical analysis to becoming the number one market timer for the S&P 500 in 2018 and the number two market timer in 2019? 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We were as high as 3,047, the S&P has now slipped 12 points giving up some of those gains that low overnight to keep in mind. We are now about 15 points in the S&Ps away from that spike low. When you put it in the NASDAQ, that spike low in the NASDAQ last night, you're dealing with a level of about 94.81 and we're now pushing, excuse me, the low, yes, yep, 94.81. We're close. We're closer than I thought. That's what made me pause for a second. 94.81, we're trading at 95.19, so you're talking about only 40 points in the NASDAQ from that spike low that we had. You heard the commercial over the break folks, given a plug to our man, Steve Rhodes, mastering probability. The ad mentioned that folks, I don't think even Steve gets enough recognition for the achievement he had. Number one ranked market timer in 2018 by Timer Digest. Number two in 2019 by literally decimal points folks, a remarkable achievement doing well in 2020 as well. Of course, check out mastering probability, lots of great subscriber webinars come with that service. A 30-day money back guarantee, so you got a whole month to try that out. If you don't like it, money back guarantee, no questions asked. Check that out. You can still gain access to Basil's webinar that he did on Thursday night. Sign up for the opening call as well and Gold Report, Goldby Rockin. We're gonna finish it up with Gold. Gold Report out every Monday. Well, Tom's gonna be issuing a new Gold Report literally in the next half hour. So check that out and we'll finish it up with Gold. Excuse me, quite an acceleration. I was gonna say overnight, 1760 for a little context on Gold. We're dealing with 1788. We're right near that upper end of the spectrum for Gold as we inched and see what happens today. But 1744 right now as we send it off to our man Larry Pezzavento. Coming up next folks with Trade What You See, Fibonacci 24-7 as well. Check them all out. Money Back Guarantee under the newsletter tab, Larry puts out an amazing report on Sundays as well. He's sending out reports with new trades already today. Stay tuned folks. Larry Pezzavento coming up next. I'll be back at 10 o'clock with Tom live programming all day at TFNN June 1st. Stay tuned folks. Larry Pezzavento coming up next.